CD Rates in Tennessee Are Getting Higher
CD Rates in Tennessee have been painfully low for quite a while, especially ever since the financial crisis. However, there may be hope for better interest rates in the near future. Financial institutions like banks and credit unions are beginning to increase their rates, especially on certificates of deposit with longer term lenths.
Why CD Rates Are Getting Better
According to the Wall Street Journal, there are a couple of reasons why CD interest rates are finally beginning to move upward again. Expectations of higher inflation have led to a wide yield curve on Treasurys, which means it’s easier for banks to offer higher rates on longer term CDs. Additionally, more individuals and businesses are looking to take on longer loans, thus the need for financial institutions to entice customers to keep their money on deposit longer.
Today’s Highest CD Rates in Tennessee
Even though this is good news for CD rates, not all rates can be considered especially good offers as compared with the national average or even competitive for the local market. If you want to get the best CD rates in Tennessee, here’s a list of the top offers right now:
Best Tennessee CD Rates: 6 Month CD
- Gateway Credit Union: 2%
- Southeast Financial Credit Union: 2%
- Credit Union For Robertson County: 2%
Highest Tennessee CD Rates: 12 Month CD
- Southeast Financial Credit Union: 2.3%
- United Southeast Credit Union: 2.3%
- Happy Valley Credit Union: 2.25%
Best CD Rates in Tennessee: 24 Month CD
- Happy Valley Credit Union: 2.78%
- Southeast Financial Credit Union: 2.75%
- Home Federal Bank of Tennessee: 2.75%
